LVMH not engage "in insider trading

President Regulator France considers market LVMH, the luxury group is controlled by Bernard Arnault, not in insider trading during the establishment of a corporation engage other family Hermès. Paris-based LVMH, which includes Louis Vuitton, bought his first stake in Hermes 14% in 2010, which later% to over 20. Prada Outlet California The movement led to Hermes, by the descendants of founder Thierry Hermès, the filing of a civil action against his rival in possession in July of this year, he was accused of insider trading and secretly builds his participation. Hermes asked also ask the regulator to a criminal investigation into the transactions LVMH. Rameix Gerard, president of the Financial Markets Authority France, told BFM radio LVMH believes that he has not manipulated the stock price when buying its stake in Hermès. But he added, "to be checked [the case] of our sanctions committee, I believe, in the first months of 2013." LVMH, which has built its stake in Hermes through equity derivatives, has denied any wrongdoing and described the acquisition as "completely legitimate." Last month, LVMH filed a counterclaim against Hermes "defamation, extortion and unfair competition." Hermes has made a holding company last year to avert a possible takeover. Family controls about 75% of the group with nine family members. In the business of luxury, famous for its silk scarves and Birkin bags